Physicians face fee cuts from Medicare

  • Comments
  • Print
Listen to this story

Subscriber Benefit

As a subscriber you can listen to articles at work, in the car, or while you work out. Subscribe Now
0:00
0:00
Loading audio file, please wait.
  • 0.25
  • 0.50
  • 0.75
  • 1.00
  • 1.25
  • 1.50
  • 1.75
  • 2.00

Physicians got a two-month reprieve from a sharp cut in reimbursement from the federal Medicare insurance program.

Congress will have to act by the end of February for doctors to avoid a 21.2-percent cut in their pay, which is scheduled as part of the balanced Budget Act of 1997.

But some specialists will see their Medicare rates fall anyway, based on a new payment schedule approved by the Centers for Medicare and Medicaid Services.

Here are the doctors that will sustain the biggest hits:
-Audiologists, -23 percent
-Nuclear medicine specialists,  -23 percent
-Radiologists, -16 percent
-Interventional radiologists, -10 percent
-Cardiologists, -13 percent
-Oncologists, -6 percent

Also, diagnostic-testing facilities will have 34-percent less money to work with, and independent labs will see their reimbursement cut 7 percent.

There are winners, however, most notably primary care physicians:
-General practitioners, +6 percent
-Family physicians, +7 percent
-Geriatricians, +8 percent
-Optometrists, +12 percent
-Opthalmologists, +13 percent

Please enable JavaScript to view this content.

Story Continues Below

Editor's note: You can comment on IBJ stories by signing in to your IBJ account. If you have not registered, please sign up for a free account now. Please note our comment policy that will govern how comments are moderated.

Get the best of Indiana business news. ONLY $1/week Subscribe Now

Get the best of Indiana business news. ONLY $1/week Subscribe Now

Get the best of Indiana business news. ONLY $1/week Subscribe Now

Get the best of Indiana business news. ONLY $1/week Subscribe Now

Get the best of Indiana business news.

Limited-time introductory offer for new subscribers

ONLY $1/week

Cancel anytime

Subscribe Now

Already a paid subscriber? Log In

Get the best of Indiana business news.

Limited-time introductory offer for new subscribers

ONLY $1/week

Cancel anytime

Subscribe Now

Already a paid subscriber? Log In

Get the best of Indiana business news.

Limited-time introductory offer for new subscribers

ONLY $1/week

Cancel anytime

Subscribe Now

Already a paid subscriber? Log In

Get the best of Indiana business news.

Limited-time introductory offer for new subscribers

ONLY $1/week

Cancel anytime

Subscribe Now

Already a paid subscriber? Log In